Zi Solar Pvt. Ltd., a renewable energy solution provider in Pakistan, has entered into an exclusive partnership with a Korean global leader in renewable energy called Aeonus Co. Ltd. to enable the deployment of Electric Vehicles (EV) charging and storage equipment in Pakistan.
The companies will also engage in collaborative research and development efforts to promote electric charging infrastructure and facilities in Pakistan in line with the government’s objective to promote EVs for improving the environment and to reduce the oil import bill.
This collaboration complements the EV Policy 2021-2026 that aims to create a robust local EV market with 30 percent and 90 percent shares in passenger vehicles and heavy-duty trucks market by 2030 and 2040 respectively.
The signing ceremony was held at the office of the Korea Trade and Investment Cooperation Agency in Karachi and the document was signed by Zi Solar’s Director of Business, M. Bilal Zaigham; the CEO of Zi Solar, Mohammad Farooq; the CEO of Aeonus, Eun Heo; and Daniel from Aeonus. The Director of Zi Solar, Zaigham Hassan, and the Founding Chairman of Zi Solar, Zaigham Mahmood Rizvi, attended it virtually from Qatar and the United States respectively.
The CEOs of Zi Solar and Aeonus thanked KOTRA and the Pakistan Embassy in Seoul for arranging the meeting.
Commenting on the partnership, Bilal Zaigham, said that EVs have begun gaining ground in Pakistan, and reliable and efficient charging solutions and equipment are needed to ensure the sustainability of the trend. He remarked that Zi Solar’s partnership with Aeonus would be a milestone in the enhancement of the growth of EVs in Pakistan.
Bilal Zaigham added that Zi Solar has achieved a significant position in providing renewable energy-related solutions and technologies in a very short period since its inception in 2015 and that it aims to offer its arsenal of expertise to ensure growth of the EV manufacturing infrastructure in Pakistan.
Under this Memorandum of Understanding (MoU), Zi Solar Pvt. Ltd. will facilitate the establishment of EV charging infrastructure and Smart Mobility Charging Outlets along with the distribution of all three levels of fast EV chargers, including over 50kWDC (level 3) chargers and over 7kW AC (level 2) chargers.
Zi Solar will also set up Electric Energy Storage System (EESS) with Solar Panels for EV Charging Systems in Pakistan to ensure maximum efficiency and sustainability.